This Country Is The Next Hot Spot For An MBA
The next hot destination to pursue an MBA?
Think Canada.
With its relaxed study and work rules and cheaper tuition costs, Canada is becoming an attractive destination for international MBA candidates, The Globe and Mail reports.
Canada Is Leading In International Applications
International student applications to Canada have shown an increase compared to the US, where applications have dropped significantly.
According to GMAC, MBA programs in Canada are twice as likely to report growth in international applicants compared to the US. For instance, only 32% of US programs report growing international application volumes in 2017. Compare that to 77% of Canadian programs that reported increases in international applications for 2017.
What Prospective International Students Are Looking For
Outside of politics, experts say that Canada’s quality of education is highly attractive to international students.
“It is not just a political thing,” says Gregg Schoenfeld, director of research for GMAC, in an interview with The Globe and Mail. “We have seen a shift away from the U.S. as quality education has been growing outside the U.S., and economic conditions are changing.”
Another important aspect is the diversity a school or country can provide.
At HEC Montréal, diversity is a key selling point for students. According to The Globe and Mail, international students make up 53.8% of all applications to HEC Montréal’s full-time French and English MBA programs. China and India are the school’s largest applicant pools, but the school enrolls students across 29 different countries.
“You have to reach some balance in the group,” HEC dean Michel Patry tells The Globe and Mail. “The cachet of the MBA is important.”
Sources: The Globe and Mail, GMAC
Yale School of Management
Tips On Applying To MBA From Yale Students
You want to apply to Yale’s School of Management, but you’re constantly questioning whether or not your application is strong enough. Are your test scores good enough? Is your essay compelling? Are you qualified?
Luckily, a number of Yale Student Admissions Ambassadors have offered up pieces of advice on what it takes to get into Yale’s School of Management.
Get To Know The School
Student ambassadors say one of the best ways to set yourself up for success in the application process is to understand what the school has to offer.
“Really try to get a holistic understanding of the school culture, the mission, the academic program, the students and, of course, the school’s location,” Jvaneel Parekh, a class of ’19 ambassador, says.
Parekh advises applicants to visit the school if they can.
“This will allow you to evaluate if a school is truly the right fit for you and, more important, it will help you in the application process to show your enthusiasm for the school and speak about how you plan to make the most of your time at the school in the interview,” Parekh says.
Know Your Goals
Part of knowing whether a school is right for you is knowing yourself and what you want to achieve with your MBA.
“I think it is really important to be honest with yourself and know what you want to achieve out of business school,” Paraj Tyle, a class of ’19 ambassador, says. “That not only helps find a good match in terms of opportunities, but also the right culture. The right culture fit is so important in having a phenomenal experience.”
Karen Marks, president and founder of North Star Admissions Consulting, says applicants can do this simple exercise to help determine their goals and ease their anxiety.
“To overcome panic, start by thinking about aspirational jobs that you would love to have right after you graduate,” Marks says in a P&Q piece. “Then, think about a few things that you would like to be doing in 10 years. Ideally, your goals are connected, but it’s ok to brainstorm alternate paths. Remember, you aren’t committing to actually doing these things! Or even to writing them in your applications. At this point, the idea is to identify jobs that you find exciting.”
Be Vulnerable
Once you have a clear image of where you want your MBA to take you, it’s important to be honest in telling your story to admissions officers.
Lucas Silva, a class of ’19 ambassador, says MBA applicants should be as vulnerable as possible when writing their story.
“Sometimes it will seem awkward or uncomfortable, but tell your true story, show who you are, and be open about it,” Silva says. “Be bold enough to let your inner self shine in your application, but be even bolder by letting the school know that you’re not perfect, that you have space for growth, and that you have dreams and ambitions to reach—and it’s because of those ambitions that you want an MBA at that particular school.”
Sources: Yale SOM, Poets & Quants
A Skills Gap In The United Kingdom
Technology has completely changed the way we work, think, and collaborate.
That’s exactly why John Cope, head of education & skills at the CBI (Confederation of British Industry), says schools and businesses must work together to develop a modern education system that will drive our economy.
“Indeed, many of the companies or products transforming the world today didn’t even exist five or 10 years ago,” Cope argues in a piece for Tes. “The way that everyone learns must adapt; the economic and social cost of not tackling this head-on is just too high. The responsibility to tackle this head-on is a shared one, with business having an essential role to play.”
A Lack Of Skilled Workers
According to the CBI’s Annual Education and Skills Report, for the first time since 2014, employers expect to have job openings across all skill levels. However, two-thirds of businesses also cited worry that there is a lack of sufficiently skills people to fill those jobs. Moreover, there was a 10% drop in employers reporting that they have apprenticeship programs.
The report surveyed 379 businesses and trade associations, which represent over 28,000 employers, across the UK.
Declining Partnerships Between Education And Business
The report found that college partnerships with businesses play a key role in raising levels of attainment and smoothing the transition to work.
“Indeed, the evidence in the survey supports this, finding close to three quarters of businesses that participated have a link with an education institution,” the report reads. “Concerningly, however, this figure is significantly lower than in 2017 at 81%.”
For businesses, that means a smaller pool of qualified, skilled candidates. For college grads, that means a rough transition into the working world.
An Effective Modern Education System
Cope argues that policymakers, businesses and the education sector all must work together to develop an effective modern education system.
“We need to get technical education right, which means continuing to reform the apprenticeship levy to reverse the fall in apprenticeship starts,” Cope argues.
On the business side, Cope says companies need to take a greater hand in nurturing students and connecting with schools.
“Whether that’s employers helping to make sure that the curriculum and education prepare young people for successful careers; business leaders inspiring and opening people’s minds to all the different vocations and education routes available; or a greater number of business leaders becoming trustees and school governors,” Cope writes.
The challenge is a big one for the UK. But Cope says it’s necessary to overcome if the country hopes to create close the skills gap.
“If we don’t rise to this challenge, we will lose out as a country,” Cope writes. “So let’s use the evidence and data from this survey as a wake-up call and a guide to creating a modern education system fit for the future.”
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